The U.S. Department of Agriculture (USDA) Rural Development is now accepting applications for loan guarantees to preserve or increase the supply of affordable rental housing in rural areas. The funding is being provided through USDA's Multi-Family Housing Loan Guarantee Program.
Eligible borrowers include most state and local government entities, nonprofits, for-profit organizations, and federally recognized tribes. Lenders may apply for a loan guarantee of up to 90 percent (or 97 percent for nonprofits) of the total development costs on loans to build or preserve affordable rural rental housing.
USDA funding provided under this program may be used for the construction or the acquisition and rehabilitation of multi-family rental housing for low- to moderate-income individuals and families.
Applications are being accepted through December 31, 2021. In Oregon, applications should be submitted to the USDA Rural Development State Office:
USDA Rural Development
ATTN: Multi-Family Housing
1220 SW 3rd Avenue
Suite 1801
Portland, OR 97204
Prior to developing an application, interested applicants are encouraged to contact our office to discuss the proposed project with a Multi-Family Housing Specialist at (866) 923-5626 extension 2 or rd.mfh.oregon@or.usda.gov.
For additional information, including details on how to apply, see page 60579 of the December 21, 2017, Federal Register.